NFT Collection The Superlative Secret Society Price, Stats, and Review
Dogecoin Price Could Reach $3.30 if Bitcoin (BTC) Hits $150,000, This DOGE Rival to Blast to $15 from $0.07
5 altcoins paving the way for the next generation of crypto millionaires
Why These Tokens Are Your Best Shot at Turning Your $850 Portfolio into $1,700,000, Not Dogecoin (DOGE) or Solana (SOL)
BONK poised for 240% rally? What key data suggests
Bybit and DMCC Hackathon Pitch Day: Watch the Future of Web3 Unfold in Dubai
Dogwifhat Price Prediction: After 39% Pump, Are WIF and STARS Next to Explode Like Dogecoin?
Crypto for Advisors: Post-Election Review
The NFT Era Was Just the Beginning, Blockchain Gaming is the Future
DOJ investigates Polymarket over alleged U.S. user participation
How to become a co-owner of Elizzarda Crypto Casino by investing just $100
Dogecoin Price Prediction: DOGE's Netflow Surges To 431M, Cutoshi Up 88%, Cardano Trading Volume Surges By 120%
Dogecoin Eyes Parabolic Rally To Price Discovery, Is The 16,000% Surge From 2020 Possible This Time?
Bitcoin Bull Tim Draper Eyes Trump’s Return as Catalyst for Private Sector Boom: ‘Very Excited’
Top Analyst Says Things Could Get Crazy for Altcoins Once Key Resistance Zone Is Broken – But There’s a Catch
What makes cryptocurrency valuable? An analysis
Franklin Templeton Expands its Tokenization Platform to Ethereum
Exploring dYdX Unlimited’s Potential Impact on the Decentralized Trading Market
Donald Trump’s World Liberty Financial Taps Chainlink To Boost DeFi Offering
Shiba Inu jumps on 3,679% burn rate spike – Is SHIB’s rally just getting started?
Polymarket's Probe Highlights Challenges of Blocking U.S. Users (and Their VPNs)
Exploring the ecosystem and features of PirateCash
Crypto influencer Kevin Mirshahi found dead in Canadian park
UAE the top destination for token sales in 2019 as US plummets to eighth spot, finds Coinschedule report
The Kingdom of the United Arab Emirates [UAE] has overtaken the United States as the top location for the sale of digital assets. The Gulf country now accounts for over 25 percent of funds raised via token offerings, while the US accounts for less than 5 percent.
Coinschedule, the blockchain and cryptocurrency rating company released a report which stated that token sales in UAE notched up over $210 million. The United States, which took the top spot in the previous calendar year was bogged down to the eighth position in the first four months of the year, accounting for under $38 million in sales.
Taking the second spot was the Cayman Islands, which held one-eighth of the total amount raised through token sales, a notable $103.75 million. The cryptocurrency havens of Singapore and Hong Kong followed up, with UK, South Korea, Canada and surprisingly, Zimbabwe, completing the list.
Interestingly, the UAE did not make the top-10 list last year. The United States’ significant drop can be attributed to the SEC’s regulatory pressure on Initial Coin Offerings [ICOs] and deeming tokens as securities, much to the dismay of the larger cryptocurrency community.
Alex Buelau, the CEO of CoinSchedule, in light of the above, told Bloomberg:
“We are seeing the continuation of the move away from the USA due to regulatory concerns.”
Coinschedule added that UAE’s performance in token sales is down to two notable sales. The first was GCBIB, the banking and insurance products development platform for virtual currency holders, which raised $142 million. Secondly, Bolton Coin, which raised $67 million allowing investment in cryptocurrency mining and real estate.
In terms of the number of token sales, Singapore tops the list, amassing 12 token sales in 2019 alone. The UK and the US take the second and third spot, hosting nine and seven token sales respectively, despite regulatory pressure. Hong Kong, the Cayman Islands, and the Netherlands also climbed up the list, with no place for the UAE in the top-10 list.
The UAE, along with Saudi Arabia has been looking to launch a digital currency tethered to their respective central banks that can be used for cross-border remittance payments. Aber, the touted digital currency has been in the works since December 2017, with only a limited number of national banks involved in the project.
The post UAE the top destination for token sales in 2019 as US plummets to eighth spot, finds Coinschedule report appeared first on AMBCrypto.